Smart Steps to Take When You’re in Debt Trouble

By Steve | AWayOutOfDebt.com

If you’re staring at a pile of credit card debt right now, you’re not alone—and you’re not out of options. According to recent reports, unpaid credit card balances are on the rise, and many households have been carrying this debt for more than a year.

Let me be the first to say:
Take a deep breath. You’re not broken. You’re just in a tight spot.

The worst thing you can do right now is throw up your hands and give up. The second worst thing? Beat yourself up with blame and shame. Neither one is going to help you pay off a single penny.

So here’s what we’re going to do instead:
We’re going to focus on what you can control.
Because when you feel like you have options, you’re more likely to take action. And that’s the real key to turning this around.

Let’s walk through a few smart, doable steps you can take this month—even if your debt feels overwhelming.

1. Call Your Credit Card Company and Ask for a Lower Interest Rate

It sounds simple—and it is. But it works more often than you think.

Right now, the average credit card interest rate is around 22%. That’s sky-high. If you’re carrying a balance, that interest is compounding fast and keeping you stuck.

But here’s the good news:
You can often negotiate a lower rate just by asking.

✅ Call the customer service number on the back of your card.
✅ Be polite but direct.
✅ Mention your history as a customer, and ask if they have any promotional or reduced-rate offers available.

Even a 2–4% drop in your APR can save you hundreds over time. And all it costs you is a 5-minute phone call.

2. Review Your Year-End Spending Report: Needs vs. Wants

Most credit card issuers provide a year-end spending summary, which breaks your purchases into categories. Use this to your advantage.

Take an honest look at your spending. Ask yourself:

How much did I spend on needs (groceries, bills, gas)?
How much went to wants (dining out, shopping, impulse buys)?

If you’re still paying interest on purchases you made six months ago—and they were wants, not needs—that’s your wake-up call.

It’s not about guilt. It’s about awareness.
When you realize that a $100 dinner out might end up costing you $130 or more with interest, it becomes easier to say “no thanks” next time.

3. Consider a Balance Transfer Offer

If your credit score is decent, you might qualify for a 0% APR balance transfer credit card. These offers allow you to move your existing credit card debt onto a new card with no interest for 12 to 18 months.

That’s a golden window to pay down your debt without it growing due to interest.

Here’s what to keep in mind:

✅ Search online for “best balance transfer credit card offers.”
✅ Check the terms—especially the transfer fee (usually around 3%).
✅ Make sure you can pay down the bulk of the balance during the promo period.
✅ Look at the regular APR after the 0% offer ends. If it’s lower than your current card, that’s a bonus.

A balance transfer only works if you’re committed to not using either card for new purchases and aggressively paying down the balance.

4. Pay Just $50 More Toward Your Balance This Month

Here’s one of my favorite challenges:
Can you find $50 more in your budget this month to pay down your debt?

Doesn’t matter if your balance is $2,000 or $20,000—what matters is that you start gaining momentum.

Just like going to the gym, it’s about showing up.
Add $50 this month. Add another $50 next month. Keep doing it.

You’ll build a habit and see results.
And let me tell you—watching your balance go down faster than usual? It feels good.

Small wins turn into big changes over time.

5. Limit New Spending to Only What You Need

While you’re focused on paying down what you owe, it’s just as important to stop adding to the problem.

Ask yourself:

Do I need this today, or do I just want it?
Can I wait 24 hours and decide later?
Could I borrow this, find it used, or skip it entirely?

Right now, your mission is to avoid new credit card charges like your future depends on it—because it kind of does.

6. Explore a Short-Term Side Hustle or Gig

Look, I know life is busy. You’re stretched thin. But if there’s any way to carve out 5 to 10 hours a week, a short-term side hustle can accelerate your debt payoff in a big way.

Here are a few ideas:

Deliver groceries or meals (Instacart, Uber Eats)
Tutor online
Offer freelance services on Fiverr or Upwork
Walk dogs or pet sit through Rover
Sell unused items online

Now here’s the key:
Every single dollar from that side gig should go toward your credit card debt. No detours. No exceptions.

Pairing gig income with a balance transfer offer?
That’s like using a turbo booster to smash your debt.

Final Thoughts: You’re Not Stuck. You’re Starting.

Getting into debt doesn’t make you a failure.
Staying stuck without a plan is the only real danger.

So if you’re in credit card trouble right now, the smartest step you can take is… your next one.

Make that call to your credit card company.
Review your spending habits.
Apply for a balance transfer if it makes sense.
Add just a little more to your payment this month.
Find one gig, sell one thing, or skip one “want.”

Do one thing this week. Then one more next week.
You’re building momentum—and that’s what gets you out of debt.

🔧 Tools & Resources:

✅ Download the Free Debt-Free Checklist
✅ Sign up for the Six-Week Turnaround Course
✅ Explore Side Hustles on SideHustleFromHome.com